Savings Account FAQs & Basics

Why a Savings Account Remains Important in Your 40s Find out why you shouldn't ignore a savings account in your 40s, when your finances have become more comprehensive and more complicated. Simon Zhen Lance Cothern Checking Accounts vs. Savings Accounts: What's the Difference? Opening a bank account gives you more power to manage your money... Simon Zhen How to Use a Money Market Account to Reach Your Savings Goals For savers who want to accelerate their progress towards their financial... The Importance of a High Yield Savings Account Amid a Booming Stock Market Learn why a high-yield savings account remains a key part of your financial setup even when the stock market is booming and you're getting great returns. Simon Zhen Building Savings vs. Pay Down Debt: Which is Better When You Have Extra Cash Find out whether you should prioritize savings or paying down debt when you have extra cash available to improve your financial situation. Simon Zhen Thomas (TJ) Porter NCUSIF Deposit Insurance: How Your Money in Credit Union is Protected One of the many reasons that people keep their money in a bank account is that... Kevin Mercadante Deposit Insurance Fund (DIF): Protecting Deposits in Massachusetts In America, bank deposits up to $250,000 per depositor are covered against bank... Where to Find the Cash to Build a Last-Minute Emergency Fund Learn how to build a last-minute emergency fund with cash flow that you can free up in the next month or two. Geoff Williams What is a Sinking Fund? How to Use It as Part of Your Budget Learn about the concept of a sinking fund and how you can use it as part of your budget to avoid taking on debt for planned major expenses. Kevin Mercadante Rebecca Lake How Much You Should Save Up to Pay for Graduate School Tuition Going to graduate school and earning an advanced degree could help you get ahead... Rebecca Lake How Much to Save Up for a Disney Vacation Heading to Disney might be your idea of a dream vacation but there's a lot of... Average Cost of College Tuition: How Much Do You Have to Save? Find out the average cost of college tuition, in addition to room and board, so that you can estimate how much to save for your children‘s future education. Valencia Patrice Higuera Ultra Short-Term Bonds vs. Savings & CDs: Which Offer Better Returns? Learn how ultra short-term bonds compare to savings and certificates of deposit (CDs) based on returns, cost, taxes, and risk of losing your money. Kevin Mercadante Valencia Patrice Higuera How to Prepare Financially and Save for Maternity Leave Being pregnant is an exciting time. You might spend your free time planning the... Valencia Patrice Higuera How Much to Save for the Perfect Honeymoon Without Going Into Debt Getting married is more expensive than ever. In fact: According to the... How to Beat the 52-Week Savings Challenge Find out how you can use the 52-Week Savings Challenge to build a habit of saving and reaching a financial goal after just one year. Thomas (TJ) Porter How to Set Up a Savings Account for a Teenager Learn how to set up a savings account for a teenager, who is legally not allowed to open a bank account individually, and ways to help him or her build savings. Valencia Patrice Higuera Lance Cothern 529 Plan vs. Coverdell Education Savings Account (ESA): Which Is Better For Future Education Expenses? Saving to help put your kids through college is an enormous task. However,... Thomas (TJ) Porter The Best Ways to Use Your Year-End Bonus Check For many companies, giving a year-end bonus is an annual tradition that lets them... Should You Always Switch Banks in the Best Savings Rates? Find out whether it is smart to always to moving your money between banks just so that you could earn the best of the best savings rates at this very moment. Thomas (TJ) Porter How to Keep a Secret Bank Account Find out what you need to do in order to keep a secret bank account from your spouse, parents, and family members for the sake of financial independence. Aja McClanahan Lance Cothern Foreign Bank Accounts: Reporting & Tax Rules That You Have to Worry About Chances are you’ve heard stories about rich people hiding their money in Swiss... Thomas (TJ) Porter How Much to Save Up Before Moving Out On Your Own Moving out of your parents’ house is a major step in any young adult’s life. It... Are Rewards Savings Accounts Better Than High Yield Savings Accounts? Find out whether rewards savings accounts are can provide better interest earnings that online savings accounts that simply offer competitive rates. Rebecca Lake Should You Consider a Safe Box For Your Home? Find out whether you should consider buying a safe for your home to protect your non-monetary items that are of great value, including jewelry and documents. Ben Luthi Thomas (TJ) Porter How to Set Up a Wedding Savings Account Weddings are expensive -- costly enough to put newlyweds deep in debt. That is... Lance Cothern What Would Be Considered a Financial Emergency? Building an emergency fund can take months or years of diligent saving. When it... The Dangers of Keeping Too Much Cash at Home Before you keep a large stash of cash at home, consider the drawbacks of leaving this money under the mattress vs. in a high yield savings account at a bank. Kevin Mercadante Can You Pay Bills Directly from a Savings Account? When your only remaining option for making a bill payment is to use a savings account, find out whether you can do it at a moment's notice. Thomas (TJ) Porter